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<section article="gsp" article_name="State Personnel and Pensions" number="24-401" title_number="24" title_name="State Police Retirement System" subtitle_number="4" subtitle_name="Service Retirement Benefits">
  <level label="a">
    <level label="1">
      <level label="i">
        <text>This paragraph applies to an individual who is a member on or before June 30, 2011.</text>
      </level>
      <level label="ii">
        <text>A member may retire with a normal service retirement allowance if:</text>
        <level label="1">
          <text>on or before the date of retirement, the member:</text>
        </level>
        <level label="A">
          <text>has at least 22 years of eligibility service; or</text>
        </level>
        <level label="B">
          <text>is at least 50 years old; and</text>
        </level>
        <level label="2">
          <text>the member completes and submits a written application to the Board of Trustees, on the form that the Board of Trustees provides, stating the date when the member desires to retire.</text>
        </level>
      </level>
    </level>
    <level label="2">
      <level label="i">
        <text>This paragraph applies to an individual who becomes a member on or after July 1, 2011.</text>
      </level>
      <level label="ii">
        <text>A member may retire with a normal service retirement allowance if:</text>
        <level label="1">
          <text>on or before the date of retirement, the member:</text>
        </level>
        <level label="A">
          <text>has at least 25 years of eligibility service; or</text>
        </level>
        <level label="B">
          <text>is at least 50 years old; and</text>
        </level>
        <level label="2">
          <text>the member completes and submits a written application to the Board of Trustees, on the form that the Board of Trustees provides, stating the date when the member desires to retire.</text>
        </level>
      </level>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>Subject to the approval of the Board of Trustees, the Secretary of State Police may order a member who is at least 50 years old to retire on the first day of the month after the member is notified of the Secretary’s order.</text>
    </level>
    <level label="2">
      <text>Before approving the Secretary’s order, the Board of Trustees shall give the member at least 30 days’ notice and an opportunity to be heard.</text>
    </level>
  </level>
  <level label="c">
    <text>Except for the Secretary of State Police, a member shall retire with a normal service retirement allowance not later than the first day of the month after the member becomes 62 years old.</text>
  </level>
  <level label="d">
    <level label="1">
      <text>Except as provided in paragraphs (2) and (3) of this subsection, on retirement under this section, a member is entitled to receive a normal service retirement allowance that equals 2.55% of the member’s average final compensation multiplied by each year of the member’s years of creditable service.</text>
    </level>
    <level label="2">
      <text>A member’s normal service retirement allowance may not exceed 71.4% of the member’s average final compensation.</text>
    </level>
    <level label="3">
      <text>Subject to paragraph (2) of this subsection, on retirement under this section, if a member’s annuity is greater than the member’s normal service retirement allowance calculated under paragraph (1) of this subsection, the member’s normal service retirement allowance shall equal the member’s annuity.</text>
    </level>
  </level>
  <level label="e">
    <text>Subject to §§ 29–401, 29–402, and 29–403 of this article, a retiree, or a beneficiary of a retiree, who retires on or before June 30, 1999 with a service retirement allowance, shall receive an annual retirement allowance adjustment as of July 1, 1999, as follows:</text>
    <level label="1">
      <text>for a retiree who has been retired not more than 5 years, $1,200;</text>
    </level>
    <level label="2">
      <text>for a retiree who has been retired more than 5 years but not more than 10 years, $1,500;</text>
    </level>
    <level label="3">
      <text>for a retiree who has been retired more than 10 years but not more than 15 years, $1,800; and</text>
    </level>
    <level label="4">
      <text>for a retiree who has been retired more than 15 years, $2,100.</text>
    </level>
  </level>
</section>
